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The Morning Look

ByGary Kaltbaum

Stock Market Overview: 

Stock futures are up after Thursday’s steep decline. The market remains deeply oversold in the short term. Oil prices hit the mid 20’s this week and that does not help investor confidence. Gary called the top perfectly for you in the latter half of 2015 for stocks, helping you sidestep this year’s brutal sell off.

Gary’s Thoughts: And the counter-trend rally/bounce begins. We told you yesterday afternoon that markets felt sold out and were ready…and as usual, we now get a gap to the upside. Expect counter trend moves in the worst areas including oil. We have no clue how far it carries or how long it lasts. The last near term low we called was January 20th. That move lasted less than 3 weeks and was quite anemic. This time? We shall see!

 

Economic Data:

  • Retail Sales 8:30 AM ET
  • Import and Export Prices 8:30 AM ET
  • Rob Kaplan Speaks 9:45 AM ET
  • Business Inventories 10:00 AM ET
  • Consumer Sentiment 10:00 AM ET
  • William Dudley Speaks 10:00 AM ET
  • Baker-Hughes Rig Count 1:00 PM ET

Highlights Of The Day:

    • Oil Plunges To Lowest Level in Over 12 Years
      Gary’s Thoughts: That was yesterday. Rally time! 
    • Einstein Was Right: Gravity Ripples Across the Universe as Waves
      Gary’s Thoughts: Say what! 
    • Stocks Trying To Bounce From Deeply Oversold Levels
      Gary’s Thoughts: Stocks do go up!